USD 16.3 Billion Growth in SCADA Market Size - Industry Analysis, Market Trends, Market Growth, Opportunities
NEW YORK, June 12, 2023 /PRNewswire/ -- As per Facts and Factors study, the global SCADA market size was nearly $9.9 billion in 2022 and is set to increase to about $16.3 billion by 2030 along with securing the highest CAGR of 7.9% from 2023 to 2030.
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SCADA Market: Overview
SCADA is an abbreviated form of supervisory control and data acquisition. Moreover, it comprises computers, graphical user interfaces, and network data communications for high-level supervision of processes as well as machines. Furthermore, it includes sensors and other equipment including programmable logic controllers, and an interface with plant processes or machinery. In addition to this, SCADA systems play a pivotal role as they gather and process real-time information and thus help in preserving efficiency.
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Key Insights:
- As per the analysis shared by our research analyst, the global SCADA market is projected to expand annually at the annual growth rate of around 7.9% over the forecast timespan (2023-2030)
- In terms of revenue, the global SCADA market was evaluated at nearly $9.9 billion in 2022 and is expected to reach $16.3 billion by 2030.
- The global SCADA market is anticipated to record massive growth over the forecast period owing to escalating demand for oil & gas has translated into demand for SCADA for automating & controlling production processes.
- Based on the component, the remote terminal unit segment is predicted to contribute majorly towards the global market share over the forecast timeline.
- In terms of the offering, the services segment is projected to record the highest CAGR over 2023-2030.
- Based on end-user, the process industries segment is projected to account for a major share of the global market during 2023-2030.
- Region-wise, the European SCADA market is projected to register the highest CAGR during the assessment period.
Facts and Factors published the latest report titled "SCADA Market Size, Share, Growth Analysis Report By Component (Remote Terminal Unit, Programmable Logic Controller, and Human-Machine Interface), By Offering (Hardware, Services, and Software), By End-User (Process Industries, Utilities, and Discrete Manufacturing), and By Region - Global and Regional Industry Insights, Overview, Comprehensive Analysis, Trends, Statistical Research, Market Intelligence, Historical Data and Forecast 2023 – 2030" into their research database.
Industry Dynamics:
Global SCADA Market: Growth Drivers
- Humungous Penetration of SCADA in the Oil & Gas Sector To Boost The Global Market Trends.
Escalating demand for oil & gas has translated into demand for SCADA for automating & controlling production processes, thereby steering the expansion of the SCADA market globally. In addition to this, extensive use of SCADA in downstream, upstream, and midstream applications of the oil & gas sector will steer the expansion of the global market in the years ahead. Furthermore, humungous energy requirements have translated into the growing penetration of SCADA in oil & gas firms. This, in turn, has paved the way for the growth of the SCADA business across the globe.
Furthermore, SCADA finds a slew of applications in water & wastewater treatment, power, automotive, pharmaceuticals, petrochemicals, electrical, chemical, electronics, and power industries. In addition to this, the Industry 4.0 revolution has prompted huge demand for SCADA tools. Large-scale penetration of IoT and AI in various end-use sectors has further scaled up the global SCADA market demand.
Global SCADA Market: Restraints
- Increasing Costs Related to the Installation of SCADA Systems To Inhibit the Global Industry Expansion.
Surging costs pertaining to the deployment and maintenance of SCADA tools can pose a threat to the expansion of the global SCADA industry. For instance, components such as centralized computer devices and software are costly.
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SCADA Market: Opportunities
- Breakthroughs in Wireless Sensor Networks To Open New Growth Opportunities For the Global Market.
Advancements in wireless sensor networks along with their surging acceptance in the process industries will open new growth avenues for the SCADA market across the globe. Large-scale application of wireless sensor networks in a slew of industries, including pharmaceuticals, water & wastewater treatment, and oil & gas sectors will further enlarge the scope of growth of the global industry.
SCADA Market: Challenges
- Growing Acts of Cyber-Terrorism to Put Up a Big Challenge for the Global Industry in the Upcoming Years.
SCADA systems are prone to cyberattacks and this has posed a huge challenge to the expansion of the SCADA systems industry across the globe. For instance, SCADA systems comprise a network of mainframe computers, storage systems, sensors, and communication systems, which are prone to cyberattacks.
Global SCADA Market: Segmentation
- The global SCADA market is sectored into components, offerings, end-user, and regions.
In terms of components, the global SCADA market is sectored into process industries, utilities, and discrete manufacturing segments. Furthermore, the remote terminal unit segment, which contributed to the largest share of the global market in 2022, is set to hold its segmental dominance in the forecast timespan. The segmental growth in the ensuing eight years can be a result of remote terminal units being key components of SCADA tools.
Apart from this, remote terminal units are used for gathering data, coding it into a transmittable format, and transferring it to the key system. Reportedly, deep sea exploration and extraction activities along with the need for shale gas exploration owing to the huge demand for oil & gas from emerging as well as underdeveloped economies will pave a way for the huge demand for remote terminal units.
Based on end-user, the SCADA industry across the globe is divided into utilities, process industries, and discrete manufacturing segments. Moreover, the process industries segment, which garnered nearly 50% of the global industry share in 2022, is projected to dominate the global industry expansion even in the forecasting timeline. The growth of the segment in the ensuing years can be due to growing competition among the manufacturing units for reducing manufacturing costs and processes. Moreover, the huge demand for SCADA in process industries can be attributed to a surge in the need for real-time visibility in the oil & gas, metal & mining, and food & beverages industries.
On the basis of offering, the global SCADA market is divided into services, hardware, and software & industrial segments. Moreover, the services segment, which accounted for a major share of nearly 60% of the global market in 2022, is predicted to register the highest CAGR in the ensuing years. The segmental expansion over the forecast timeline can be subject to the massive demand for services such as cybersecurity during the customization of SCADA systems.
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List of Key Players in SCADA Market:
- ABB Ltd.
- Enbase LLC
- Ing.
- Azbil Corporation
- Schneider Electric SE
- General Electric Company
- Schweitzer Engineering Laboratories Inc.
- Capula Ltd.
- Rockwell Automation Inc.
- ELYNX TECHNOLOGIES LLC
- Yokogawa Electric Corporation
- TOSHIBA CORPORATION
- Mitsubishi Electric Corporation Emerson Electric Co.
- Siemens AG
- Progea srl
- Willowglen Systems
- Fuji Electric Co. Ltd.
- Valmet Oyj
- Inductive Automation LLC
- Punzenberger COPA-DATA GmbH.
- Others
Key questions answered in this report:
- What are the growth rate forecast and market size for SCADA Market?
- What are the key driving factors propelling the SCADA Market forward?
- What are the most important companies in the SCADA Market Industry?
- What segments does the SCADA Market cover?
- How can I receive a free copy of the SCADA Market sample report and company profiles?
Report Scope:
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Regional Dominance:
- Asia-Pacific SCADA market to accrue massive revenues over the forecast timeline.
Asia-Pacific, which accounted lucratively towards the global SCADA market revenue in 2022, is anticipated to continue its dominance over the analysis timeline. The regional market expansion over 2023-2030 can be due to a surge in the penetration of SCADA systems in process automation, power & energy, communication, and electrical utility applications. A surge in the manufacturing units in a slew of industries such as power, automotive, pharmaceuticals, and textile industries will steer the growth of the regional market.
Furthermore, the European SCADA industry, which contributed nearly more than 50% of the global industry share in 2022, is set to register the highest CAGR over the forecast timeline. The factors that are projected to determine the expansion of the regional market include a rise in the allocation of funds in smart grid ventures and a thriving manufacturing sector in the continent.
Global SCADA Market is segmented as follows:
SCADA Market: By Component Outlook (2023-2030)
- Remote Terminal Unit
- Programmable Logic Controller
- Human-Machine Interface
SCADA Market: By Offering Outlook (2023-2030)
- Hardware
- Services
- Software
SCADA Market: By End-User Outlook (2023-2030)
- Process Industries
- Utilities
- Discrete Manufacturing
SCADA Market: By Region Outlook (2023-2030)
North America
- The U.S.
- Canada
Europe
- France
- The UK
- Spain
- Germany
- Italy
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- South Korea
- Southeast Asia
- Rest of Asia Pacific
Latin America
- Brazil
- Mexico
- Rest of Latin America
Middle East & Africa
- · GCC
- · South Africa
- · Rest of Middle East & Africa
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